February ends with strong auction results

February ends with strong auction results

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Buyers were out in force over the weekend, with clearance rates, sales numbers and sale prices making strong gains.

Sydney reported an 85.5 per cent clearance rate over the weekend, according to APM PriceFinder. That compared to a rate of 75.1 per cent recorded at the same time last year.

Sales numbers rose 7.3 per cent to 517, while the median price for house auctions rose 14.8 per cent to $1.2 million and the median price for unit auctions rose 12.0 per cent to $765,000.

Melbourne also saw a big jump in its clearance rate, from 71.7 per cent to 80.1 per cent.

Sales in Melbourne climbed 8.6 per cent to 819, with houses up 12.8 per cent to $880,000 and units up 2.5 per cent to $564,000.

Adelaide’s clearance rate fell from 54.9 per cent to 50.0 per cent. However, sales grew 3.6 per cent to 29 and the median house price grew 11.3 per cent to $595,000.

Brisbane’s clearance rate improved from 47.6 per cent to 55.3 per cent. Sales rose 7.7 per cent to 42, and house prices surged 41.4 per cent to $819,000.

[Related: The previous week’s results]

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